Go Where Your Customers Are
Background
XP Fantasy is a daily fantasy esports site for those who do not want to gamble, but still want to compete and win prizes. We are a relatively new company — we ran our first beta test in 2020 and officially launched our site at the start of 2021.
XP Fantasy is now at that stage of growth that many startups, including ours, struggle with — customer growth. We grew tremendously in the first few months of launching our site but since then, growth has plateaued. As we try to navigate this stage, there are three things that we have learned -
1. Go where your customers are
Going where your customers are may seem obvious but, as we quickly realized, it is very tempting to fall into the trap of throwing everything at the wall and hoping something sticks. In our case, that meant spending ad dollars on Facebook, Twitter, and Reddit ads hoping to convert users into subscribers. Luckily, we managed to catch ourselves before diving deep into an ad-spending hole. In one of our weekly meetings we took a step back and thought about (a) who our target market was, and (b) how and where they spent their free time. By focusing on these questions, we identified a brand new advertising opportunity — influencers (specifically, League of Legends streamers).
Although, in the grand scheme of things, we spent a nominal amount of money to learn the importance of focused ad-spend, as a startup in its first year of operations, every dollar counts and we realized we needed to be more thoughtful and deliberate with our spending.
2. Find partners that align with your goals and objectives
When building partnerships with influencers it was important to us to work with influencers that truly represented our brand. We wanted to work with people that were approachable, enjoyed interacting with their viewers, and played League of Legends regularly.
Armed with these three criteria, we are extremely excited to announce our partnership with @MikeYeung! Mike not only demonstrates each of the three traits we look for, he also competed in the LCS (League of Legends Championship Series) for several years. Having him represent XP Fantasy furthers our credibility and builds consistency with our brand messaging. He’s been an awesome partner to work with and we look forward to building our relationship with him.
3. Win-win
Partnerships are only successful when both parties mutually benefit from working together. When finding partners, think not only of what the other party can offer you, but also of what you can offer them. If the other party is excited to work with you, then they will put more effort into their deliverables. Higher quality deliverables will likely result in a higher user conversion rate.
Check us Out!
If you haven’t already, check us out at www.xpfantasy.com and stay current with all things XP Fantasy by joining our community discord.
This week is an especially great week to join because we are offering a live coaching session from Mike Yeung for the subscriber that drafts the best fantasy lineup!
